The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

World Wealth Report

Sep 24, 2007

Merrill Lynch’s 11th annual “World Wealth Report” is out! If you are keeping score:

The wealth of the very richest class jumped up again last year. There are now 94,970 super-rich individuals whose assets (not counting their home mansions) exceed 30 million dollars EACH.

These 94,970 people together control 13 trillion dollars. That’s 12 zeroes: $13,000,000,000,000. That’s nearly 9% of the total wealth of the entire world, which is 6.6 billion people strong.

The Wealth Report adds that the class of mere millionaires also enlarged. The world now has 9.5 million of them. Lumped together, they control 37.2 trillion dollars – a full one-quarter of the wealth of the whole world.

Thanks, Merrill Lynch. Now we know who’s holding on to all the wealth our work helped create!